we are an EOU for manufacfturing telecom equipment with 0% Basic Custom Duty, going to make DTA sale under Notification 23/2003-CE dt. 31/03/2003.

http://www.cbec.gov.in/htdocs-cbec/excise/cx-act/notifications/notfns-2003/ce23-2k3

As Sr. No. 2 of aforesaid notification, we are required to pay 50% of applicable custom duty, but 1st proviso says confuses it with normal excise duty and 2nd proviso provides that 1st proviso is NA in case Nil rate of duty under sec 12 of Custom Duty.

What shall be the applicable duty?

Is it 50% of applicable Custom Duty which 8.70% as on?
or
Will be it be normal excise duty i.e. 12.5%

or Since that basic duty is 0% in CTA, it will be again 8.70% i.e. 50% of custom duty

Regards,
Manish

Dear Sir / Madam,

I wish to know how to compute income in case of a person owning 3 passenger vehicles which he uses to transport people from one point to their offices or sometimes for tour purpose.

1) Whether his business treated as a contractor, eligible for TDS u/s 94C?

2) Whether his income is calculated on presumptive basis? if yes which section 44AD or 44AE?

3) If presumptive taxation is not applicable then?

4) Can he claim depreciation on his vehicles? Whether rate of depreciation is different for passenger vehicles?

Kindly revert.
Thanks & Regards,
Suraj

I have proprietor sheep firm i am purchase bill mention cartage inward

Byer Raj & co.
Purchase 50000/-
Cartage Inward 2500/-

I am pay 52500/- please tall me Service tax applicable me
Yes or no.

EOU had imported some electronic lab equipment in the past.
When the Equipment was found defective, in the absence of any service Centre in India, the same was ‘re-exported for Repair” to the overseas service Centre of the manufaurer
Now after repair, they are re-importing the equipment, for which they have paid in advance the repairing charges to the overseas service Centre. .
However, the custom is detaining the said re-import asking the EOU to produce permission from Ministry Of Environment, Forest & Climate Change (MOEF)
Is there any necessity to get such permission from MOEF for Re-imports of repaired equipment?
We know all attempts has to be made to make our motherland environmentally clean
Hazardous waste generated within the country and that is coming from outside the country should be checked and reduced.
At the same time in this case i.e. Re-imports of repaired equipment’s the following points are to be considered
1. The equipment was imported into India long time back .
2. The equipment became defective and instead of throwing it away as waste, it was re-exported for repair
3. Now it is repaired and hence it is not coming back as a waste product.
4. In other words, the re-exported defective equipment which was in India, is coming back after repair as usable item only to be used continuously.
Definitely there will be some notification waiving off ‘re-imports after repair “from the purview of MOEF permission.
Can anyone give some more light on this? I do not think that Government is not so illogical to overlook the above mentioned points.

whether Board report is mandatory attachment in form AOC-4?
And in form MGT-9 i.e. extract of annual return signature of PCS will be there(other than Small Comoany and OPC)

we are going to close the pvt ltd company in October 2015 so what is procedure of ROC and which Form are to be filed? whether we have to file annual forms of ROC of F.Y 2015-16 in next year?

sir
is there any business law or bank condition that a small shopkeeper (proprietor) or professional must have bank current account instead of savings account for business /professional payments through cheques?

please clarify in detail that when and why current account is needed ?

Sir,my son acquired NRI status after residing continuously for more than six months in Canada after going there on work permit.He opened his NRE account in India and is remitting surplus funds into his NRE account from his salary sfter deduction of taxes as per their norms.But after getting NRI status,immediately he could not get his existing Indian accounts (FD and SB accounts) converted into NRO accounts which are running as of Indian resident only.He is not having any income in India other than interest on FD etc.which is much below the annual taxable income for AY 2015-16 but as the interest amount exceeded Rs.10000.00,the bank deducted TDS on interest .
1. Can he file his ITR in India as Indian Resident to claim refund of the TDS deducted by the bank on his FDs ?
2. If yes,what residency status he should write in his ITR as Indian Resident or Non-Resident ?
3. Also on e-filing the return,in the Computation of Income sheet generated,one declaration is there that It is further certified that I have no Foreign income and Foreign assets while actually as my son is working there,he is getting income also.
4. Also whether he should mention all his operative/running accounts including NRE accounts also along with Resident Indian accounts in the ITR to be filed ?
5. Please clarify if any other precautions are needed while filing ITR ii India to claim for refund.
6. Which Form he should use for filing of his ITR in India and how he should disclose all the particulars discussed above ? What will be his residential status Resident or Non-resident in ITR while filing his return in India ?
7. In his ITR to be filed should he disclose all his operative accounts including NRE account as mentioned above.
Please clarify the position by substantiating Income Tax Sections,if possible.
Thanks in anticipation.
Hardev Singh Batra

Dear sir/ madam
I am bit confused regarding the limit for applicability of section 44AB on Real Estate Consultancy Firm (property dealer).

A govt co. received lease rent in cluding service tax.but the take cenvat crdit on the same.After service tax audit done,the dept raised that the company is not eligible for availing cen vat credit on the ground that the same is supporting service only.advice me